What is the process for transferring auto insurance to a new car?
The process for transferring auto insurance to a new car is pretty easy. Typically, you only need to call your insurance company and inform a representative about your new vehicle. During the call, you can transfer your auto insurance to your new car.
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Insurance & Finance Analyst
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...
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Travis Thompson has been a licensed insurance agent for nearly five years. After obtaining his life and health insurance licenses, he began working for Symmetry Financial Group as a State Licensed Field Underwriter. In this position, he learned the coverage options and limits surrounding mortgage protection. He advised clients on the coverage needed to protect them in the event of a death, critica...
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Updated December 2023
- Transferring auto insurance to a new vehicle can usually be done over the phone with your insurance company
- Some auto insurance companies will allow you to transfer auto insurance over their website
- If your new vehicle is worth more than your old one, your auto insurance rates may go up
If you are currently in the market for a new or pre-owned vehicle, you might be wondering about the process for transferring auto insurance to a new car.
You might also have questions about the new vehicle, including how much auto insurance coverage you need. Keep reading to learn the answer to these important questions and related tips and advice.
How to Transfer Auto Insurance to a New Car
Transferring auto insurance to a new car is not typically difficult or time-consuming. In most cases, you can handle this over the phone with your auto insurance agent if you have one.
However, your insurance company may allow you to complete the transfer online. If you prefer this option, you might want to check the auto insurance website before buying your new vehicle to see if you can make the transfer this way.
If you purchase your new vehicle over the weekend and your agent is unavailable, you can leave a message on a 24/7 hotline. While some auto insurance agencies allow a grace period to make the transfer, it is still best to take care of this as soon as possible.
If possible, you might want to touch base with your agent, if you have one, before buying the new vehicle to see how much time you have to transfer auto insurance to a new car.
Read more: can i transfer auto insurance to a new owner
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Information I Need to Transfer Auto Insurance to a New Car
When transferring auto insurance to your new vehicle, your insurance company will need the following information:
- The make and model of the vehicle
- The year of the vehicle
- The Vehicle Identification Number, or VIN
You should also inform your auto insurance agent if your new vehicle has any safety features or other driver assistance technologies. This might qualify you for certain discounts on your auto insurance policy.
To make the call go as smoothly as possible, have all of this information handy; most of this information will be on the sale documents. If you are wondering how quickly changes you make to your policy go into effect, your insurance company can advise you on when the new vehicle will be covered.
Rate Increases When Transferring Auto Insurance to a New Car
Part of understanding how auto insurance works involves knowing when your rates might go up. If your new vehicle is worth more than your old car, and in most cases, this is true, your rates may rise.
This is why letting your agent, if you have one, know about safety features is so important, as it might help offset any rate increases.
Review Your Policy When You Transfer Auto Insurance
Transferring auto insurance to a new car is ideal for reviewing your entire policy. For example, you might now work from home most of the time, which means your vehicle is not used as much as before. In some cases, this might lead to lower rates.
If you are claim free, you might also ask about a good driver auto insurance discount. You might also ask about your deductibles for your comprehensive and collision insurance; if you have savings and can raise your deductibles a bit, you will save money on your auto insurance policy.
Final Thoughts on How to Transfer Auto Insurance to a New Car
Buying a new vehicle can be an exciting time. To make sure that your new car has proper insurance coverage, it is important to set aside some time to transfer auto insurance to your new car. Fortunately, this process is usually quick and easy, which will leave you plenty of time to enjoy driving your new wheels.
Frequently Asked Questions
Can you transfer car insurance to a different state?
If you move to a different state, you will need to buy a new auto insurance policy that meets the minimum coverage requirements of the new state. You might be able to stay with your current auto insurance provider, or you might have to switch companies if it is not licensed in your new state.
Can you transfer car insurance to another vehicle?
Yes, you can transfer your car insurance to another car. To do this, contact your insurance company to ensure the current coverage is adequate for the other vehicle and ask your agent to help with the transfer.
How long do I have to insure my new car?
When you buy a new vehicle, your auto insurance company typically provides a seven to 30 days grace period to update your policy.
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